Using Customised Forms To Reduce Workload on Complex Applications/Proposals

While a necessity, complicated, long-form proposal forms present an arduous and often annual task for your clients, and if provided on paper, in Word or PDF formats, means that rekeying of information is required to generate a quote.

The critical issues created by paper forms include;

• Increased workload (paper filling for the client/broker, then rekeying for policy administration, CRM, accounting, etc.
• Increased risk of user error when transposing the question set to other systems.
• Competitors are often willing to accept your question set from your client to present an alternative quote.
• In most circumstances, the client must complete a full-form proposal annually, so there is an additional burden on that client annually before they renew with you.
• Increased compliance burden with no "single source of truth".
• Increased time and cost to serve with back office processes require human and consequential financial resources.

Even in digital form, if we generate the requisite fields and questions without conditional logic to trigger and hide relevant questions, we transfer a paper task to a screen-based one. There is little benefit to the client or the broker completing the form aside from the obvious benefit of the response being available as digital text. Often, the information will still be required by multiple parties and systems, with copy and paste and rekeying still a back office necessity.

How does Complete Broking manage the process?

Complete Broking has a highly advanced form configuration tool. We support hide/reveal questions and repeatable regions. Our forms can automatically trigger question sets or questionnaires based on client responses. Supporting documentation and information can be uploaded inline. We graphically represent your progress through the application with completion data, error trapping, and prompts. The prompting hotlinks to the relevant part(s) of the application and the form can be saved in any state of progress to allow users to navigate their applications as best suits them.

The data we collect is held centrally in a single client view and can be used to prepopulate renewal forms, auto-filling much of the information and ageing relevant data. We highlight any areas of the form that must be filled or reviewed before submission, reducing the burden on the client.

The result is faster form filling that can be broker-led or client self-serve with a single source of truth for the data, ratified by the client before submission.

How Does Our Approach Add Value?

From the client's perspective, we're delivering a better user experience, which, while pleasing them, drives better business outcomes for you. We've seen a significant increase in retention rates, with clients less likely to go to market because;

• We've digitised the proposal form and stored the data within your environment, removing some of the risks of paper forms.
• We've reduced the effort involved for the client, especially for renewals, meaning that if costs are as expected and there have been no service issues, the likelihood of renewal without a more exhaustive procurement process is dramatically increased.

From a business perspective, any client data we collect and store is readily available for integration with your other systems and partners. Complete Broking is API friendly and can be integrated with other systems directly or via import/export data as scheduled or on-demand tasks. Once collected and stored, without leaving Complete Broking's Broker Operating System(BOS), we can use the data to;

• Prepopulate renewal and cross-sell product applications within Complete Broking.
• Send rating fields automatically to our rules-based rating engine, third-party raters or insurer(s), subject to your workflow. Then use these figures to generate on-screen or document-based quotes for delivery to a client portal or via email.
• Collect data from your other systems to develop a single client view. (for example, where you have multiple client IDs for a single client because of how they've previously been sold to).
• Send data automatically or on demand to populate CRM, PAS, Accounting, and Bordereau and generate reports from a policy, client or insurer perspective.
• Generate documents automatically, or pass relevant data to your existing Policy Administration and accounting systems.
• Facilitate digital collaboration to enable broker-led or self-serve client updates from a single auditable data set.

To understand how Complete Broking can help you improve your data collection or to arrange a demonstration, email us at contact@completebroking.com, call us on +44 121 616 0099, or book a meeting via this link.